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1. PARTIES
<br /> This Amendment(the"Amendment")to the Original Contract shown on the Signature and Cover Page for this Amendment(the
<br /> "Contract")is entered into by and between the Borrower,and the State.
<br /> 2. TERMINOLOGY
<br /> Except as specifically modified by this Amendment,all terms used in this Amendment that are dented in the Contract shall be
<br /> construed and interpreted in accordance with the Contract.
<br /> 3. AMENDMENT EFFECTIVE DATE AND TERM
<br /> A. Amendment Effective Date
<br /> This Amendment shall not be valid or enforceable until the Amendment Effective Date shown on the Signature and Cover
<br /> Page for this Amendment. The State shall not be bound by any provision of this Amendment before that Amendment
<br /> Effective Date.
<br /> The Parties' respective performances under this Amendment and the changes to the Contract contained herein shall
<br /> commence on the Amendment Effective Date shown on the Signature and Cover Page for this Amendment.
<br /> 4. PURPOSE
<br /> The Well Augmentation Subdistrict of the Central Colorado Water Conservancy District was approved for a loan,from the
<br /> CWCB,totaling$3,030,000.00 on March 22,2013 to finance the Water Rights and Gravel Pit Storage Project(Project).A
<br /> decrease of$1,378,095.2I will be made for funds not needed.The Project is completed and the parties agree to amend the
<br /> contract to reduce the final loan amount from$3,030,000.00 to$1,651,904.79.The parities also agree that the Borrower shall
<br /> pledge as additional collateral an undivided one hundred percent(1001/6)interest in one(1)share of capital stock of The Platte
<br /> Valley Irrigation Company,stock certificate number 1299.This amendment also reflects the change of the stock certificate
<br /> number for eighty shares of capital stock previously pledged as collateral in The Lupton Meadows Ditch Company.The
<br /> transferred stock certificate number of 0755,in the name of CWCB as Lien Holder and Well Augmentation Subdistrict of the
<br /> Central Colorado Water Conservancy District as Equity Owner,replaces stock certificate number 0652 in the name of Mildred
<br /> Mae Sarchet,LLC.
<br /> 5. MODIFICATIONS
<br /> The Contract and all prior amendments thereto,if any,are modified as follows:
<br /> A. The original loan contract amount is hereby deleted and replaced with the Current Contract Maximum Amount of
<br /> $1,651,904.79,shown on the Signature and Cover Page for this Amendment.
<br /> B. The Amendment to Deed of Trust,Appendix A-1, in the revised loan amount,and incorporated herein shall replace and
<br /> supersede the Original Deed of Trust, attached to Loan Contract Amendment No. I as Appendix A. This amendment
<br /> reflects the change of the stock certificate number. The transferred stock certificate number of 0755,in the name of CWCB
<br /> as Licn Holder and Well Augmentation Subdistrict of the Central Colorado Water Conservation District as Equity Owner,
<br /> replaces stock certificate number 0652 in the name of Mildred Mae Sarchet,LLC.This Amendment to Deed of Trust shall
<br /> be recorded with the Weld County Clerk and Recorder.
<br /> C. Amendment to Deed of Trust, Appendix A-2, in the revised loan amount, and incorporated herein shall supplement and
<br /> operate in conjunction with the Amendment to Deed of Trust, attached to the Loan Contract Amendment No. 2 as
<br /> Appendix A-1. This Amendment to Deed of Trust adds additional stock pledged as collateral, stock certificate number
<br /> 1299.This Amendment to Deed of Trust shall be recorded with the Weld County Clerk and Recorder
<br /> D. Amendment to Promissory Note, Appendix B-I, in the revised loan amount, and incorporated herein shall replace and
<br /> supersede the Original Promissory Note attached to the Original Contract as Appendix 2.
<br /> E. Amendment to Security Agreement,Appendix C-1,in the revised loan amount,and incorporated herein shall supplement
<br /> and operate in conjunction with the Original Security Agreement,attached to the Original Contract as Appendix 4.
<br /> F. Amendment to Stock Assignment, Appendix D-1 and incorporated herein shall replace and supersede the Stock
<br /> Assignment attached to Loan Contract Amendment No. I as Appendix B.CWCB shall be responsible for all costs related to
<br /> replacing any stock certificate lost while in custody of the CWCB or the State Treasurer's Office.
<br /> G. Amendment to Stock Assignment, Appendix D-2 and incorporated herein shall supplement and operate in conjunction
<br /> with the Stock Assignment attached to Loan Contract Amendment No.2 as Appendix D-1.CWCB shall be responsible for
<br /> all costs related to replacing any stock certificate lost while in custody of the CWCB or the State Treasurer's Once.
<br /> 6. RESOLUTION
<br /> The Borrower has adopted a Board of Director's Resolution(Required)and a Shareholder's Resolution(If not required,must he
<br /> stated in Borrower's bylaws),irrepealable for the term of this loan,authorizing the Borrower to pledge the additional collateral for
<br /> the Loan,and to execute documents necessary to convey a security interest in said collateral to the CWCB,and attached as
<br /> Appendix E.
<br /> Page 2 of 3 Amendment CMS No.94892
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